Stonebridge Financial Planning Group LLC Has $304,000 Holdings in Caterpillar Inc. (NYSE:CAT)

Stonebridge Financial Planning Group LLC grew its stake in Caterpillar Inc. (NYSE:CAT) by 17.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 912 shares of the industrial products company’s stock after buying an additional 137 shares during the quarter. Stonebridge Financial Planning Group LLC’s holdings in Caterpillar were worth $304,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Richardson Financial Services Inc. acquired a new position in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. acquired a new position in shares of Caterpillar in the first quarter valued at approximately $27,000. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar in the second quarter valued at approximately $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar in the second quarter valued at approximately $28,000. Finally, Fairman Group LLC acquired a new position in shares of Caterpillar in the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Price Performance

NYSE:CAT opened at $339.59 on Friday. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01. The company has a market cap of $166.08 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.54 and a beta of 1.10. The firm’s fifty day moving average price is $340.36 and its two-hundred day moving average price is $343.69. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same period in the prior year, the company posted $5.55 earnings per share. Caterpillar’s revenue was down 3.6% compared to the same quarter last year. Equities analysts expect that Caterpillar Inc. will post 21.87 earnings per share for the current year.

Caterpillar declared that its board has initiated a stock repurchase program on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The disclosure for this sale can be found here. Insiders have sold 7,668 shares of company stock worth $2,665,760 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CAT shares. Evercore ISI cut their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Truist Financial reissued a “buy” rating and issued a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Raymond James started coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. UBS Group boosted their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Finally, StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $336.31.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.